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EnergySolutions, Inc Management Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: ES

Any projections as to the company's future financial performance represents management's estimates as of today, August 8, 2012. EnergySolutions assumes no obligation to update these projections in the future due to changing conditions, developments or otherwise. We've also prepared a number of tables that will be referenced in our discussion this morning. These tables are part of the earnings release that was put out earlier this morning and can be accessed on the Investor Relations tab at www.energysolutions.com.

To be respectful of your time, we will try to hold this call to 1 hour. We know that you will have a number of questions and we'll try to answer as many as possible in the hour. We'll be happy to follow up with you individually after the conference call if you have additional questions. With that, I'll now turn the call over to David Lockwood, CEO of EnergySolutions

David J. Lockwood

Good morning. It has been 58 days since Greg and I joined the management team at EnergySolutions. We have been extremely pleased with the performance of our management team and our dedicated employees. We are fortunate to work with the best people in the business, over 5,000 engineers, scientists and professionals who make a difference in the communities in which we work and live. Over the past 58 days we've spent time talking with our customers, our employees, regulators, competitors, consultants, others about our company and its various products and services. We've also had the opportunity to review the data concerning the prospects for the markets we serve. We've had the opportunity to evaluate where we're strong and where we could do better.

Based on our analysis, we have reached 4 conclusions about our company. First, our company requires more focus. We are in too many businesses in too many places. We'll be more successful if we focus on fewer opportunities. In particular, we should focus our management and deploy our capital on businesses in which we have gained strategic competitive advantages and enjoy higher margins.

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